South African student spends $63000 of $1million mistaken deposit

A South African Student from Walter Sisulu University gets R14m (approximately $1million) mistakenly deposited into her Intellicard account. University spokesperson Yonela Tukwayo said the student had reported the incident to the university, but had allegedly spent R500,000 (approximately $63,000) of it in the past five months.

In a post on Facebook, the student admits receiving the money, and said it has been reversed.

“I am not denying anything, the money was indeed loaded on the 1st of June and reversed on the 13th August .”

She questioned why her short-lived good fortune was made public and felt the Student Representative Council did not have her back.

”As a responsible person and a member of Pasma not just a member but a leader of students I went straight to the SRC to report this matter.”

NSFAS issued a series of tweets distancing itself from the bonanza pay-out, shifting the blame to IntelliMali, the company that runs the Intellicard system which pays and administers student funds.